Nestlé Global suspends coffee machine rental fees
By CANADIAN VENDING
For Nestlé’s food service customers who have been severely affected, Nestlé Global is offering staff ‘prompt and pragmatic assistance to weather the crisis and help them restart their businesses.’ For example, the company’s “Always open for You” initiative, extends payment terms, suspends rental fees for coffee machines and offering free products. The total value of this initiative is expected to be around CHF 500 million.
As it is still too early to assess the full impact of COVID-19, Nestlé maintains their original full-year 2020 guidance for the time being. The company stated it “expects continued improvement in organic sales growth and underlying trading operating profit margin. Underlying earnings per share in constant currency and capital efficiency are expected to increase.”
Mark Schneider, Nestlé CEO, commented in a press release: “The COVID-19 crisis continues to impact all our lives in powerful and sometimes tragic ways. Our thoughts are with all those who have been affected and we extend our deepest sympathies to those who have lost loved ones.
Nestlé has a special responsibility at this time. Our food and beverage products help keep people healthy, provide comfort and support recovery.
“Our people, in particular our frontline workers, have shown extraordinary commitment in keeping our business running and meeting consumer needs. We will continue to work hard to provide food and beverages to people across the world, every day.
“Our company remained resilient in the first quarter, reflecting our diversified product portfolio and our strong local presence in 187 countries. However, this crisis is far from over and we will face many uncertainties in the coming quarters. We will continue to adapt quickly to changing consumer needs and to challenges in our global supply chains. As a reliable employer and business partner we are meeting our commitments.
“As a good citizen and trusted neighbour, we continue to offer our help, in particular to the most vulnerable in society. Over the last 154 years, Nestlé has successfully overcome many challenges. We are confident that – together with all those who are fighting against the pandemic and its consequences – we will also overcome this one.”